(MENAFN - Kuwait News Agency (KUNA)) KUWAIT, June 15 (KUNA) -- Kuwait's Oil Minister and Minister of Electricity and Water Khaled Al-Fadhel said he attended Arab Maritime Petroleum Transport Company general meetings in Cairo.
The talks, held on Friday, discussed market developments, the operational state of the company's fleet and its ongoing commercial oil and liquefied gas transport joint ventures, the minister said in a statement.
The Kuwait-based company, which is unevenly funded by nine Arab countries, including Kuwait, discussed plans to modernise and its 14-vessel fleet of varied sizes and functions, he added.
The meeting also discussed internal matters pertaining to last year's budget and activities.
Founded in 1972 as a company operating under the Organization of Arab Petroleum Exporting Countries (OAPEC), it is financed by Kuwait, Saudi Arabia, the United Arab Emirates, Bahrain, Qatar, Egypt, Libya, Iraq and Algeria. (end)